History of Figma in Timeline

Figma is a web-based collaborative design tool primarily used for user interface (UI) and user experience (UX) design. It offers real-time collaboration features, allowing multiple users to work on the same design simultaneously. Figma provides a range of vector graphics editing and prototyping tools. Desktop applications for macOS and Windows offer offline functionality. Mobile apps for Android and iOS enable users to view and interact with prototypes on mobile devices.

2012: Figma Founded

In 2012, Dylan Field and Evan Wallace, while studying computer science at Brown University, began working on what would become Figma. Wallace focused on graphics, and Field was chair of the CS Departmental Undergraduate Group.

2012: Thiel Fellowship

In 2012, Dylan Field was named a Thiel Fellow, receiving $234,460 in exchange for taking a leave of absence from college. Evan Wallace later joined Field in California after completing his computer science degree, and they began working on the company full-time.

2012: Early Figma Objectives

In 2012, the initial objective behind Figma was to empower creativity by creating free and simple creative tools in a browser. Field and Wallace experimented with various ideas, including software for drones and a meme generator, before deciding on web-based graphics editor software.

June 2013: $3.8 Million Seed Funding

In June 2013, Figma raised $3.8 million in seed funding, with Index Ventures and Terrence Rohan as lead investors.

December 3, 2015: Free Invite-Only Preview Program

On December 3, 2015, Figma started offering a free invite-only preview program.

December 2015: $14 Million Series A Funding

In December 2015, Figma raised $14 million in Series A funding, led by Greylock.

September 27, 2016: First Public Release

On September 27, 2016, Figma had its first public release.

February 2018: $25 Million Series B Funding

In February 2018, Figma raised $25 million in a Series B round, led by Kleiner Perkins.

February 2019: $40 Million Series C Funding

In February 2019, Figma raised $40 million in Series C funding, with Sequoia Capital as the lead investor.

October 22, 2019: Figma Community Launched

On October 22, 2019, Figma launched Figma Community, enabling designers to share their work for others to view and adapt.

April 2020: Valued at Over $2 Billion

By April 2020, Figma was valued at more than $2 billion.

April 2020: $50 Million Series D Funding

In April 2020, Figma raised $50 million in a Series D funding round, led by Andreessen Horowitz.

April 21, 2021: FigJam Launched

On April 21, 2021, Figma introduced FigJam, a digital whiteboarding capability allowing users to collaborate with sticky notes, emojis, and drawing tools.

May 2021: Valued at $10 Billion

By the end of May 2021, Figma's valuation reached $10 billion.

June 2021: $200 Million Series E Funding

In June 2021, Figma raised $200 million in a Series E funding round, led by Durable Capital Partners.

2021: Adobe XD Losing Market Share

By 2021, Adobe XD had begun losing market share to Figma, contributing to antitrust concerns over Adobe's proposed acquisition of Figma.

2021: Enters ICO

In 2021, Figma entered the ICO under the management of Polychain Capital.

June 2022: Partnership with Google for Education

In June 2022, Google for Education announced a partnership with Figma to bring its design and prototyping platform, including FigJam, to education Chromebooks.

September 15, 2022: Adobe to Acquire Figma

On September 15, 2022, Adobe announced it would acquire Figma for about $20 billion in cash and stock. This was Adobe's largest acquisition to-date, with Dylan Field remaining as CEO. The announcement raised concerns within the design community, and Adobe shares fell by 17%.

November 2, 2022: US Department of Justice Investigation

On November 2, 2022, it was reported that the US Department of Justice had begun an investigation of the proposed merger between Adobe and Figma, due to antitrust concerns and questions of overvaluation.

February 2023: European Commission Review

In February 2023, it was announced that the European Commission would review the Adobe acquisition of Figma under the European Union merger laws.

June 2023: Dev Mode Launched

In June 2023, Figma launched Dev Mode to accelerate the translation of designs into code for developers.

December 2023: Valuation Estimate by CB Insights

After the Adobe acquisition of Figma at a $20 billion valuation fell through in December 2023, CB Insights estimated Figma's worth to be between $8.3-9 billion based on earning metrics.

December 18, 2023: Adobe and Figma Abandon Merger

On December 18, 2023, Figma and Adobe mutually agreed to abandon their merger. Adobe cited the lack of a clear path to receive necessary regulatory approvals from the European Commission and the UK Competition and Markets Authority. Adobe paid Figma a $1 billion reverse breakup fee as part of the initial agreement.

June 2024: Figma Slides (Flides) Launched

In June 2024, Figma launched Figma Slides, also known as Flides, in beta. This is a presentation program enabling users to collaborate on presentation slides.

April 2025: Figma Files for IPO

In April 2025, Figma announced that it had begun to file confidential paperwork for an initial public offering (IPO) with the Securities and Exchange Commission (SEC).

May 2025: Figma Sites in Beta

In May 2025, Figma announced Figma Sites in Beta at Figma Config 2025. This feature enables designers to directly publish their designs to the web.

July 1, 2025: Formal Filing for NYSE Listing

On July 1, 2025, Figma formally filed for a listing on the New York Stock Exchange (NYSE) with the ticker symbol "FIG".

October 2025: Acquisition of Weavy

In October 2025, Figma acquired Israeli AI startup Weavy for over $200 million and established a new R&D center in Tel Aviv. Weavy was rebranded as Figma Weave, integrating its team and technology into Figma's platform to enhance AI-powered image and video editing tools and creative workflows.